![]() Both central banks have set interest rates close to zero. have both seen decades of low, stable inflation. Both countries had a coronavirus-related spike in unemployment, which is now subsiding. cents.įigure 1: CAD has fluctuated widely versus USD over the past four decadesĬAD’s value versus USD is nearly impossible to explain based on traditional macroeconomic data. That, however, is more than 10% above its recent low set in March, when it was worth only 69 U.S. CAD is currently near the lower end of its historic range, worth about 76 U.S. dollar (USD) has fluctuated significantly, at times rising nearly 10% or falling by as much as 37%. Over the past 40 years, the value of the Canadian dollar (CAD) against the U.S. A faster pace of reopening in Canada may have boosted Canada’s dollar vs.The Canadian dollar hit a multi-year low against the U.S.
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